Buying and Selling
Buying
We can provide legal advice to assist you in your purchase of a property in France. Our expertise includes advising on the purchase of leaseback schemes, new builds, conversions, apartments, ski chalets, listed buildings, fishing lakes and commercial property. We can also set up French companies for you if required.
Selling
We can also assist with the sale of your French property to include handling negotiations on your behalf with the selling agent and giving advice on the tax implications of your sale.
What is the conveyancing process in France?
When your offer on a property is accepted, you will be asked to sign a preliminary contract called the "compromis de vente" or "contrat de vente sous conditions suspensives", or a "vente en l’état futur d’achèvement" (VEFA) which is a reservation contract. This is usually prepared either by a notaire or by an estate agent. This is a binding, written agreement between the vendor and purchaser, which can be made subject to certain conditions known as “conditions suspensives” These state that the contract will only become binding if certain things happen – for example, if the purchaser obtains a mortgage within a stated time. These conditions are important and need to be carefully drafted. The purchaser or vendor may be released from the contract if the conditions are not fulfilled. A 10% deposit is usually paid at this stage.
There is an all important “7 day cooling off period” which commences when both parties have signed the compromis de vente which will be sent to you by recorded delivery. This allows you to (subject to complying with the necessary formalities) withdraw without giving any reason within seven days.
Secondly, there is a formal deed of sale called the “acte de vente”, which is signed in front of a notaire or by proxy, which we can arrange for you, if you cannot attend in person.
The time frame between these two documents is generally around 10 to 12 weeks.
The traditional house buyer’s survey known in the UK does not exist in France. There have to be inspections carried out, eg. for lead, termites or asbestos, but you might choose to have the property inspected by a surveyor and there is no reason why the contract cannot be made subject to certain conditions of that survey.
Fees and Costs
Stanley Tee Fees
Most of the advice we provide is charged on a fixed fee basis. The fee structure for the full package, i.e. from start to finish and including advice on succession, is:
Value of the property |
Price (excluding VAT/TVA) |
Under €250,000 |
£1100 plus tax |
€250,000 - €500,000 |
£1300 plus tax |
€500,000 - €1 million |
£1500 plus tax |
Over €1 million |
Price on application. |
Please apply to Tee France for further information on the full fee structure. Where the service you require falls outside any of our fixed fee packages then we will provide you with an estimate of the likely fees and regularly review the position with you.
Other Costs
Whilst every transaction is unique we think it helpful to give you an idea of the expenses you may incur on your sale or purchase of a property in France:
Selling
Fees for statutory reports, i.e. asbestos, lead and termites.
Costs of removal
Power of Attorney (if signing by proxy).
Buying
Notaires fees & costs (7-9% of purchase price, 2-3% for a new-build)
Estate agent’s fees, sometimes this is included in the price
Structural survey (not a legal requirement in France)
Removal costs
Costs of arranging a loan if required (bank costs and notaires’ fees)
Power of Attorney (if signing by proxy)
